Bank Transfer Day: Trades Doing Last-Minute Preparations

For CUNA and NAFCU, there was no calm before Saturday’s expected Bank Transfer Day storm.

Both trade associations were busy arranging interviews Friday and working with credit unions to prepare to take advantage of what CUNA Vice President Pat Keefe said is “the biggest surge in media interest in credit unions in at least 10 years.’’

NAFCU Public Relations Manager Patty Briotta said they’ve been eager to point out that the impetus behind Bank Transfer Day didn’t come from the industry.

“This is an organic movement by consumers who are choosing Main Street and credit unions are a hallmark of Main Street,’’ she said. “Their ties to their communities and better rates give us a great story to tell and we’ve been successful in doing it.’’

Keefe said CUNA hasn’t been working with credit unions to do media training but some of the state leagues have been.

He said his association’s announcement that an estimated 650,000 people have joined credit unions since September has generated coverage in the Wall Street Journal, New York Times and other publications and wire services.

CUNA has prepared three Web videos on the theme of switching to a CU, and is spreading them via social media ahead of Bank Transfer Day.

NAFCU’s Briotta said her organization has reached out through both traditional and social media. She also noted an extensive story on ABC News last week that was the result of NAFCU’s outreach.

Briotta also said NAFCU will be surveying its members in the days and weeks ahead to gauge the impact of Bank Transfer Day. They want to find out not only how many people transfer their accounts to credit unions but also learn what motivated them.